SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
BORST WALTER GERHARDT

(Last) (First) (Middle)
GENERAL MOTORS CORP
767 FIFTH AVENUE 14TH FL

(Street)
NEW YORK NY 10153

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
GENERAL MOTORS CORP [ GM ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Treasurer
3. Date of Earliest Transaction (Month/Day/Year)
04/24/2009
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
General Motors Common Stock, $1-2/3 Par Value 04/24/2009 J(1) 581 D $1.87 0 I Trust(1)
General Motors Common Stock, $1-2/3 Par Value 8,692 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
GM Phantom Stock Units $1-2/3 Par Value Common Stock(2) $0 04/24/2009 J(2) 1,490 (2) (2) General Motors Common Stock, $1-2/3 Par Value 1,490 $0 0 D(2)
GM Stock $1-2/3 Par Value Deferred Stock Units(3) $0 (3) (3) General Motors Common Stock, $1-2/3 Par Value 35 35 D
GM Stock $1-2/3 Par Value Option (Right to Buy)(4) $75.5 01/10/2001(4) 01/11/2010 General Motors Common Stock, $1-2/3 Par Value 6,500 6,500 D
GM Stock $1-2/3 Par Value Option (Right to Buy)(4) $52.35 01/08/2002(4) 01/09/2011 General Motors Common Stock, $1-2/3 Par Value 8,200 8,200 D
GM Stock $1-2/3 Par Value Option (Right to Buy)(4) $50.46 01/07/2003(4) 01/08/2012 General Motors Common Stock, $1-2/3 Par Value 9,000 9,000 D
GM Stock $1-2/3 Par Value Option (Right to Buy)(4) $50.82 02/04/2003(4) 02/05/2012 General Motors Common Stock, $1-2/3 Par Value 4,500 4,500 D
GM Stock $1-2/3 Par Value Option (Right to Buy)(4) $40.05 01/21/2004(4) 01/22/2013 General Motors Common Stock, $1-2/3 Par Value 9,000 9,000 D
GM Stock $1-2/3 Par Value Option (Right to Buy)(4) $35.76 04/07/2004(4) 04/08/2013 General Motors Common Stock, $1-2/3 Par Value 5,000 5,000 D
GM Stock $1-2/3 Par Value Option (Right to Buy)(4) $53.92 01/23/2005(4) 01/24/2014 General Motors Common Stock, $1-2/3 Par Value 12,800 12,800 D
GM Stock $1-2/3 Par Value Option (Right to Buy)(4) $36.37 01/24/2006(4) 01/25/2015 General Motors Common Stock, $1-2/3 Par Value 12,800 12,800 D
GM Stock $1-2/3 Par Value Option (Right to Buy)(4) $20.9 02/23/2007(4) 02/24/2016 General Motors Common Stock, $1-2/3 Par Value 12,800 12,800 D
GM Stock $1-2/3 Par Value Option (Right to Buy)(4) $29.11 03/20/2008(4) 03/21/2017 General Motors Common Stock, $1-2/3 Par Value 12,000 12,000 D
GM Stock $1-2/3 Par Value Option (Right to Buy)(4) $23.13 03/05/2009(4) 03/06/2018 General Motors Common Stock, $1-2/3 Par Value 19,500 19,500 D
GM Stock $1-2/3 Par Value Restricted Stock Units(5) $0 03/20/2008(5) (5) General Motors Common Stock, $1-2/3 Par Value 2,809 2,809 D
GM Stock $1-2/3 Par Value Restricted Stock Units(5) $0 03/05/2009(5) (5) General Motors Common Stock, $1-2/3 Par Value 7,972 7,972 D
Explanation of Responses:
1. Shares held in trust under General Motors Savings Stock Purchase Program ("S-SPP") as of 12/31/08. State Street Bank & Trust Co., Trustee. Shares owned pursuant to Rule 16b-3 exempt employee savings plan. The Trustee, as independent fiduciary of the General Motors common stock fund, determined at its sole discretion that it was no longer consistent with applicable law and the applicable plan documents and agreements in place for it to continue to hold shares of General Motors common stock in the S-SPP and it decided to sell all of the shares held in such fund, including all of the shares held in my S-SPP account. I was informed of such sale as of the date indicated in Box 3 on the front of this Form 4.
2. The Phantom Stock Units are held under Section 16b-3(c) exempt Rule 16b-3(b)(2) eligible excess benefit plan operated in conjunction with a qualified 401(k) plan. Each Unit is the economic equivalent of one share of General Motors common stock. The Units are payable in cash upon separation from General Motors. These Units are being reported even though they are exempt under Rule 16b-3. Units held as of 12/31/08. The price of zero is notional and only used for purposes of facilitating the electronic filing of this Form. As described in the footnote above concerning my shares of General Motors common stock held in the S-SPP, when the Trustee of the General Motors S-SPP common stock fund sold all of the shares of General Motors common stock held in the S-SPP, the Units in my excess benefit plan were also liquidated. I was informed of such disposition as of the date indicated in Box 3 on the front of this Form 4.
3. The Deferred Stock Units were accrued under the Rule 16b-3 qualified General Motors Deferred Compensation Plan. Each Deferred Stock Unit is the economic equivalent of one share of General Motors common stock. If General Motors pays a dividend, dividend equivalents are earned on each Deferred Stock Unit. Units held as of 12/31/08. The Deferred Stock Units convert on a "1 for 1" basis. The price of zero is notional and only used for purposes of facilitating the electronic filing of this Form.
4. Employee stock option granted pursuant to Rule 16b-3 qualified General Motors Long-Term Incentive Plan. Stock options vest and become exercisable in three equal annual installments, commencing, respectively, one, two and three years from the date of initial grant. Date shown in Column 6 of Table II is the date the first installment becomes/became exercisable.
5. Restricted Stock Units ("RSU") granted pursuant to Rule 16b-3 qualified General Motors Cash Based Restricted Stock Unit Plan. Each Restricted Stock Unit is the economic equivalent of one share of General Motors common stock. If General Motors pays a dividend, dividend equivalents are earned on each undelivered Restricted Stock Unit. The RSUs are denominated in stock units but are paid in cash in three annual installments commencing, respectively, one, two and three years from the date of initial grant. Date shown in Column 6 of Table II is the date the first installment is/was payable. The price of zero in Table II is notional and only used for purposes of facilitating the electronic filing of this Form.
/s/ Martin I. Darvick, attorney-in-fact for Mr. Borst 04/24/2009
** Signature of Reporting Person Date
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* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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